Specifically, the odds of 75bps rate-hikes in July and September are sliding fast (68% and 22% respectively now) and for December and February the odds of a single 25bps hike are evaporating…Simply put, the market appears to be pricing the end of this rate-hike cycle ahead of the MidTerms.
This ‘dovish’ shift has sent the 10Y yield tumbling back towards 3.00% – erasing all of the post-CPI spike…
Gold is also rallying once again….
Stocks remain confused as to whether they should selloff on recession fears or rally on the expectations of easing and QE down the line…
Is this what Powell wanted?
Thu, 06/23/2022 – 10:16
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Author: Tyler Durden